OzFx System :) 100-800 Pips Per Trade

thrunner · February 27, 2008

Thanks for the update, O Z.

The Bill Williams Awesome Oscillator is not well known in the TS circle, but it seems to be a staple with Metatraders. Code listed below is a similar system without the use of stochastics, using the Awesome Oscillator and Parabolic SAR stops. Perhaps those who use Metatrader could report on the result of this similar system:

/*[[
            Description: Awesome Scalper V1.3 Awesome Oscillator auto Trader
            for 15 minutes charts 
Name := 2Extreme4U - Awesome Scalper 1.3
Author := 2Extreme4U
Link := www.omniscienttrader.com
Notes := Scalping expert/Trend follower
Lots := 1.00
Stop Loss := 25
Take Profit := 50
Trailing Stop := 15
]]*/

/////////////////////////////////////////////////////
// Defines
/////////////////////////////////////////////////////
Defines: Slippage(5);			// Slippage
Defines: EMA1(11);				// EMA 10
Defines: PSARStep(0.0150);		// Parabolic SAR Step
Defines: PSARMaximum(0.2000);	// Parabolic SAR Maximum
Defines: PrimaryTarget(29);     // Primary target to close 1 lot
Defines: BreakEvenSL(11);	    // Number of points made before the stop is moved to breakeven
Defines: TradesPerCurrency(1);	// Number of lots to trade

/////////////////////////////////////////////////////
// Variables
/////////////////////////////////////////////////////
var: EMA101(0), EMA102(0);						// EMA 10 Values
var: Psar(0), PsarP(0);							// Parabolic SAR Value
var: Awesome(0), AwesomeP(0), AwesomePP(0);    	// Awesome Occillator Value
var: Accel(0), AccelP(1);						// Accelerator Occillator Value
var: OpenSell(0);								// Sell Trades Counter
var: OpenBuy(0);								// Buy Trades Counter
var: PriceOpen(0);								// Price Open
var: I(0);										// Misc Counter
var: Mode(0);									// Squirl the Mode variable for multiple use

/////////////////////////////////////////////////
//  Main Script Conditions
/////////////////////////////////////////////////
If Curtime - LastTradeTime < 5 then Exit;

If FreeMargin < 500 then Exit;

/////////////////////////////////////////////////////
// Calculations / Setting Values
/////////////////////////////////////////////////////
OpenSell = 0;
OpenBuy = 0;
for I = 1 to TotalTrades
{	
Mode = ord(I, VAL_TYPE);
if ord(I, VAL_SYMBOL) == Symbol then
{
	//Calculates how many Sell we have for the current Symbol
	if Mode == OP_SELL then
	{
		OpenSell++;
	};
	//Calculates how many Buy we have for the current Symbol
	if Mode == OP_BUY then
	{
		OpenBuy++;
	};
};
};

Awesome = iAO(0);
AwesomeP = iAO(1);
AwesomePP = iAO(2);
Accel = iAC(0);
AccelP = iAC(1);
Psar = iSAR(PSARStep, PSARMaximum, 0);
PsarP = iSAR(PSARStep, PSARMaximum, 1);

/////////////////////////////////////////////////
//  Comment on the chart
/////////////////////////////////////////////////


/////////////////////////////////////////////////
//  Long/Short Trade Opening
/////////////////////////////////////////////////
If OpenBuy < TradesPerCurrency then
{
// Buy 4 points higher than last candle close
PriceOpen = Close[1] + 4 * Point;
If Awesome > 0 and AwesomeP > 0 and Awesome > AwesomeP and AwesomePP < 0 and Accel > AccelP and Psar < Ask then
{
	if High[0] >= High[1] then
	{
		Alert(Symbol, " BUY ALERT.  Awesome Scalper.  Buy at ", PriceOpen, " or better.");
		if Ask <= PriceOpen then
		{
			SetOrder(OP_BUY, Lots, Ask, Slippage, Psar, Ask + TakeProfit * Point , BLUE);
			Exit;
		};
	};
};
};

If OpenSell < TradesPerCurrency then
{	
// Buy 4 points lower than last candle close
PriceOpen = Close[1] - 4 * Point;
If Awesome < 0 and AwesomeP < 0 and AwesomePP > 0 and Accel < AccelP and Psar > Bid then 
{
	If Low[0] <= Low[1] then
	{
		Alert(Symbol, " SELL ALERT.  Awesome Scalper.  Sell at ", PriceOpen, " or better.");
		if Bid >= PriceOpen then
		{
			SetOrder(OP_SELL, Lots, Bid, Slippage, Psar, Bid - TakeProfit * Point, RED);
			Exit;
		};
	};
};
};

/////////////////////////////////////////////////
//  Trade Management
/////////////////////////////////////////////////
for I = 1 to TotalTrades
{	
Mode = ord(I, VAL_TYPE);
if ord(I, VAL_SYMBOL) == Symbol then
{
	If OpenBuy > 0 then
	{
		//If Primary target is met, close half play and move stop to 0 for other lot.
		if (Bid - ord(I, VAL_OPENPRICE)) >= PrimaryTarget * Point then
		{
			Alert("Primary Target met.  BID = " + Bid + ".  Closing order at market for " + Symbol + " on " + Period + " Period.");
        	CloseOrder(ord(I, VAL_TICKET), ord(I, VAL_LOTS), Bid, Slippage, Orange);
        	Exit;
     	};
		// PSAR Stop
		if Psar > PsarP and ord(I, VAL_STOPLOSS) != Psar and (Bid - Psar >= 4) and (Psar < Bid) then
		{
			ModifyOrder(ord(I, VAL_TICKET), ord(I, VAL_OPENPRICE), Psar, ord(I, VAL_TAKEPROFIT), BlueViolet);
			Exit;
		};
		// If 10 pips profit, move Stop to BreakEven
		if bid - ord(I, VAL_OPENPRICE) >= BreakEvenSL * Point and ord(I, VAL_STOPLOSS) < ord(I, VAL_OPENPRICE)) then
		{
			ModifyOrder(ord(I, VAL_TICKET), ord(I, VAL_OPENPRICE), ord(I, VAL_OPENPRICE), ord(I, VAL_TAKEPROFIT), Cyan);
			Exit;
		};
		/*
		// Psar has changed direction so we want to exit at breakeven
		if psar > Bid and ceil(ord(i, VAL_OPENPRICE)*10000) != ceil(ord(I, VAL_TAKEPROFIT)*10000) then
		{
			ModifyOrder(ord(I, VAL_TICKET), ord(I, VAL_OPENPRICE), ord(I, VAL_OPENPRICE), ord(I, VAL_OPENPRICE), Orange);
			Exit;		
		};
		*/
	};
	If OpenSell > 0 then
	{
		//If Primary target is met, close half play and move stop to 0 for other lot.
     	if (ord(I, VAL_OPENPRICE) - Ask) >= PrimaryTarget * Point then
     	{
     		Alert("Primary Target met.  Ask = " + Ask + ".  Closing order at market for " + Symbol + " on " + Period + " Period.");
        	CloseOrder(ord(I, VAL_TICKET), ord(I, VAL_LOTS), Ask, Slippage, Orange);
        	Exit;
     	};	
		// Psar Stop
		if (Psar < PsarP) and (ord(i, VAL_STOPLOSS) != Psar) and (Psar - Ask >= 4) and (Psar > Ask) then
		{
			ModifyOrder(ord(I, VAL_TICKET), ord(I, VAL_OPENPRICE), Psar, ord(I, VAL_TAKEPROFIT), BlueViolet);
			Exit;
		};
		// If 10 pips profit, move Stop to BreakEven
		if ord(I, VAL_OPENPRICE) - Ask >= BreakEvenSL * Point and ord(I, VAL_STOPLOSS) > ord(I, VAL_OPENPRICE)) then
		{
			ModifyOrder(ord(I, VAL_TICKET), ord(I, VAL_OPENPRICE), ord(I, VAL_OPENPRICE), ord(I, VAL_TAKEPROFIT), Cyan);
			Exit;
		};
		/*
		// Psar has changed direction so we want to exit at breakeven
		if psar < Ask and ceil(ord(i, VAL_OPENPRICE)*10000) != ceil(ord(I, VAL_TAKEPROFIT)*10000) then
		{
			ModifyOrder(ord(I, VAL_TICKET), ord(I, VAL_OPENPRICE), ord(I, VAL_OPENPRICE), ord(I, VAL_OPENPRICE), Orange);
			Exit;		
		};
		*/
	};
};
};

OzFx · February 28, 2008

Hello Friends,

It is good to be back home. I had a nice short vacation and I am so glad to see that people have kept the forums busy and alive in the meantime. I’d loads of email/PMs to reply back and I hope everyone received the reply. I also tried my best to read every single post on the forums and reply where ever I could. If I’ve missed out on anyone then please send me an email and I’ll reply back to you.

When I left we had 5 trades open, out of which EUR/USD performed just great. I closed it at +445 pips at 1.5000. If you are still in the trade then you should be looking at +530 pips right now.

EUR/GBP second lot closed at +100, currently at +130.

CAD/JPY closed at BE after making +100.

CHF/JPY got closed out at -150.

And finally USD/JPY closed out at BE after making +50

GBP/CHF trade from today had already made +50 and I’ve moved the Stop Loss to Break Even

Total for the month now is +1265 and so far we have 33/39 successful trades.

Oz

Edited February 29, 2008 by Soultrader
link removed

OzFx · February 29, 2008

Hello Friends,

Trades from this morning are all going in our favor big time. So far we already have banked +300 pips plus more to come

Currently Open Positions:

1. EUR/JPY - Short - 2nd lot closed at +100

2. AUD/JPY - Short - 2nd lot closed at +100

3. NZD/JPY - Short - 1st lot closed at +100

4. EUR/GBP - Long - Already had 3rd lot closed at +150

Month Total: +1615

cowpip · February 29, 2008

OzFx, congratulations on finding something that works for you. You apparently have the edge that so many seek. Way to go!

If I may make one suggestion - it would be more realistic to people reading your thread if you converted your "total pips" earned into pips equivalent to the full size you are using. For example, if you are trading 7 lots and booked profits as follows:

+50 on first lot,

+100 on second lot

+150 on third lot

+200 on fourth lot

+300 on fifth lot

+400 on sixth lot

+500 on seventh lot

Since you are using 1/7th of your entire position in each scaleout:

size = 1/7

The actual total amount earned as if you held the full 7 lots to the very end would be:

(50*size) + (100*size) + (150*size) + (200 * size) + (300 * size) + (400 * size) + (500 * size)

which equals 242.8 pips of profit on 7 full lots.

Please correct me if I'm wrong, but the method you are using simply adds up all of the pip sizes of the various scale-outs (in this case, it would be: 50+100+150+200+300+400+500 = 1700 pips).

Stating that your total pip profits is 1700 pips sounds a lot more impressive than 242.8 pips, but it is misleading (particularly to people new to forex).

I personally have always preferred people who have computed the total pip profit or loss that is translated into equivalent full-size positions (if we know the size used). It's far more realistic.

Just a thought...

OzFx · February 29, 2008

Hello friends,

As soon as I finished writing my previous post prices move incredibly in our favor banking us total of +450 pips

Currently Open Positions:

1. EUR/JPY - Short - 3rd lot closed at +150

2. AUD/JPY - Short - 3rd lot closed at +150

3. NZD/JPY - Short - 3rd lot closed at +150

4. EUR/GBP - Long - Already had 3rd lot closed at +150

Month Total: +1765

OzFx · February 29, 2008

cowpip said:
OzFx, congratulations on finding something that works for you. You apparently have the edge that so many seek. Way to go!

If I may make one suggestion - it would be more realistic to people reading your thread if you converted your "total pips" earned into pips equivalent to the full size you are using. For example, if you are trading 7 lots and booked profits as follows:

+50 on first lot,

+100 on second lot

+150 on third lot

+200 on fourth lot

+300 on fifth lot

+400 on sixth lot

+500 on seventh lot

Since you are using 1/7th of your entire position in each scaleout:

size = 1/7

The actual total amount earned as if you held the full 7 lots to the very end would be:

(50*size) + (100*size) + (150*size) + (200 * size) + (300 * size) + (400 * size) + (500 * size)

which equals 242.8 pips of profit on 7 full lots.

Please correct me if I'm wrong, but the method you are using simply adds up all of the pip sizes of the various scale-outs (in this case, it would be: 50+100+150+200+300+400+500 = 1700 pips).

Stating that your total pip profits is 1700 pips sounds a lot more impressive than 242.8 pips, but it is misleading (particularly to people new to forex).

I personally have always preferred people who have computed the total pip profit or loss that is translated into equivalent full-size positions (if we know the size used). It's far more realistic.

Just a thought...

The way I post pips is that I add/subtract the maximum pips you could have won/lost on a pair. If a trade makes +300 pips I don't add 50+100+150+200+300 = 800 pips. I only record 300. Same goes for losses.

If I do the way you think I am do it then it would result in more than 10000 pips

hope it make sense.

Oz

cowpip · February 29, 2008

OzFx said:
The way I post pips is that I add/subtract the maximum pips you could have won/lost on a pair. If a trade makes +300 pips I don't add 50+100+150+200+300 = 800 pips. I only record 300. Same goes for losses.

If I do the way you think I am do it then it would result in more than 10000 pips

I still need a little clarification, if you don't mind.

Let's take this as an example: You trade 3 lots and close one lot at each of the following profit targets:

First lot: +100

2nd lot: +150

3rd lot: +500

How would you calculate your total profit? Would it be +500?

Thanks.

OzFx · March 1, 2008

Hello Friends,

What a great Friday we had. We were able to bank +550 pips in 3 trades which were opened the same morning. I expect these pairs to consolidate a little bit before falling further next week. I am holding all my positions for now.

Friday was a great day to end Feb. We achieved a total of +1865 pips which is more than Jan. Last month not only was short but we also faced slow market movement for first 12 or so days due to Chinese New Year holidays, plus I had my personal 3 days off. I hope everyone achieved similar success.

If you would like then please leave a feedback here

Currently Open Positions:

1. EUR/JPY - Short - 3rd lot closed at +150

2. AUD/JPY - Short - 4th lot closed at +200

3. NZD/JPY - Short - 4th lot closed at +200

4. EUR/GBP - Long - Already had 3rd lot closed at +150

Have a great weekend.

Oz

OzFx · March 1, 2008

cowpip said:
I still need a little clarification, if you don't mind.

Let's take this as an example: You trade 3 lots and close one lot at each of the following profit targets:

First lot: +100

2nd lot: +150

3rd lot: +500

How would you calculate your total profit? Would it be +500?

Thanks.

Thats right. I would only add 500 to total pip count. Same for losses. It basically shows that how much you could have made/lost using the system regardless of MM method you using.

BlowFish · March 1, 2008

Im kinda confused how much you make (or loose) is a direct function of the MM you deploy isn't it?

EDIT: Having said that your MM is clear so if you report +300 that means that price has hit T3 or greater before hitting your stop? But then was stopped on the remainder?

cowpip · March 1, 2008

OzFx said:
Thats right. I would only add 500 to total pip count. Same for losses. It basically shows that how much you could have made/lost using the system regardless of MM method you using.

Ok, thanks for the clarification.

The only problem with your method is that people will get an incorrect idea of how much money they can make, especially if the people who are interested are new to forex. For example, many newbies will simply multiply the 500 pip total by the dollar amount per pip that they are trading to derive a possible income. But as you and I both know, that's not the way it works in reality, because anyone worth their salt will employ money-management techniques that involve removing portions of the entry from the table (scaling out), to protect the entry and ensure profitability. That's why I prefer the method I explained earlier. It gives a realistic indication of how much profit you have actually made and doesn't inflate reality.

Your system seems to have some merit, but everyone should convince themselves with a good prolonged period of testing on their own before they commit any cash to it.

Kudo's to you for your willingness to share.

BlowFish · March 2, 2008

Re-Cap from post 1:-

______________________________________________________________

Money Management:

* Trade with 5 Lots with Stop Loss 100 pips away

* Take Profit on 1st Lot at 50 pips. Move Stop Loss to Break Even (BE).

* Take Profit on 2nd Lot at 100 pips.

* Take Profit on 3rd Lot at 150 pips.

* Take Profit on 4th Lot at 200 pips.

* Let the 5th Lot run until you see an opposite entry signal.

______________________________________________________________

So when you report +100 it is

2/5@ +100 | 3/5 Scratch

Makes sense now

Cheers.

OzFx · March 3, 2008

BlowFish said:
Im kinda confused how much you make (or loose) is a direct function of the MM you deploy isn't it?

EDIT: Having said that your MM is clear so if you report +300 that means that price has hit T3 or greater before hitting your stop? But then was stopped on the remainder?

If the price is hit 300 then we have closed 4 lots and fifth lot is at 300.

OzFx · March 3, 2008

BlowFish said:
Re-Cap from post 1:-
______________________________________________________________

Money Management:

* Trade with 5 Lots with Stop Loss 100 pips away

* Take Profit on 1st Lot at 50 pips. Move Stop Loss to Break Even (BE).

* Take Profit on 2nd Lot at 100 pips.

* Take Profit on 3rd Lot at 150 pips.

* Take Profit on 4th Lot at 200 pips.

* Let the 5th Lot run until you see an opposite entry signal.

______________________________________________________________

So when you report +100 it is

2/5@ +100 | 3/5 Scratch

Makes sense now

Cheers.

When I report +100 it means that first lot closed at +50 and second closed at +100. 3 lots still in play.

OzFx · March 4, 2008

cowpip said:

Please correct me if I'm wrong, but the method you are using simply adds up all of the pip sizes of the various scale-outs (in this case, it would be: 50+100+150+200+300+400+500 = 1700 pips).

The way I post pips is that I add/subtract the maximum pips you could have won/lost on a pair. If a trade makes +300 pips I don't add 50+100+150+200+300 = 800 pips. I only record 300. Same goes for losses.

Cheers,

OzFx

OzFx · March 9, 2008

Hello Friends,

We had an excellent start for this month. Though marred by slow market due to NFP we still manage to bank +350 Pips. We only took 4 trades last week and all 4 of them were successful.

Some traders mentioned not getting filled on 2nd profit target for USD/CAD when we saw sudden price movement just after the news release. I can’t emphasize enough about trading with a good broker for same reason. All positions on my account and on managed accounts got filled easily.

We have 4 open positions at this stage, all in green and currently we stand at 41/47 successful trades.

Have a great weekend.

Oz

Dr Who · March 31, 2008

Thanks for posting your stuff Oz, I appreciate it.

Blu Bull · April 9, 2008

Will look into this. thanks for the info

OzFx · April 17, 2008

Hello Friends,

Few days back I mentioned reconsidering 200SMA filter rule and now I am convinced that we can relax this rule a bit specially in times when most pairs are trending against the established trend. So here is what I recommend:

1. Wait for AC to cross “0″ line.

2. Go down to 4hr and 1hr to see if you still see AC and Stot in the same direction.

3. Risk less percent of equity for trades against the trend.

I would welcome your ideas and thoughts on this.

Cheers,

Oz

OzFx · April 28, 2008

Hello Friends,

Here are the trades from today:

1. Oz Special:

EUR/USD - Short

2. Daily Signals:

NZD/USD - Short

USD/JPY - Long

AUD/CAD - Short

3. AES Signals:

None

Cheers,

Oz

OzFx · April 29, 2008

Hello Friends,

Here are the trades for today:

1. Oz Special:

None

2. Daily Signals:

GBP/USD - Long

3. AES Signals:

None

Please note that there is holiday in Japan today. I am still holding all positions from yesterday:

1. Oz Special:

EUR/USD - Short

2. Daily Signals:

NZD/USD - Short

USD/JPY - Long

AUD/CAD - Short

Cheers,

Oz

OzFx · April 29, 2008

Here the pips updates of trades from today and yesterday:

1. Oz Special:

EUR/USD - Short

First lot closed at +50 . Currently at +78

2. Daily Signals:

NZD/USD - Short

First lot closed at +50 . Currently at +71

USD/JPY - Long

Currently at -41

AUD/CAD - Short

Currently at -20

GBP/USD - Long

Closed at -100

Cheers,

Oz

OzFx · April 30, 2008

Hello Friends,

Here are the trades for today:

1. Oz Special:

EUR/CAD - Short (Stop Loss 130)

CHF/JPY - Short

2. Daily Signals:

None

3. AES Signals:

None

Previous Trade update:

1. Oz Special:

EUR/USD - Short

First lot closed at +50 . Currently at +48

2. Daily Signals:

NZD/USD - Short

Second lot closed at +100 . Currently at +95

USD/JPY - Long

Closed at -100

AUD/CAD - Short

Currently at -5

We will discuss the signals here.

Cheers,

Oz

OzFx · April 30, 2008

Here the pips updates of trades from today and yesterday:

1. Oz Special:

EUR/CAD - Short

Second lot closed at +100 . Currently at +97

EUR/USD - Short

Second lot closed at +100 . Currently at +85

CHF/JPY - Long

Currently at -35

2. Daily Signals:

NZD/USD - Short

Second lot closed at +100 . Currently at +41

AUD/CAD - Short

Currently at -11

OzFx · May 1, 2008

Hello Friends,

I don't see any good trades. Also due to "May Day" holiday I would recommend not to trade today. Later I'll send an email with updated open and closed positions.

Cheers,

Oz

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OzFx System :) 100-800 Pips Per Trade

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